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1 Analytics 2013 A survey on analytic usage, trends, and future initiatives Research conducted and written by: Lavastorm Analytics A global analytics software company that enables a new, agile way to analyze, optimize, and control data and business processes. March 2013

3 Executive Summary The analytics market is thriving and continues to grow at a rapid place. According to Gartner, the analytics and business intelligence market is forecasted to reach over $17 billion by This year-over-year growth will make a huge impact on how organizations conduct their day-to-day business and measure profitability. From the corner office in a large financial firm to the back office of a communications provider, analytics plays a critical role in any organization s success. Whether utilizing analytics to understand customer behavior, improve marketing effectiveness, manage risks, and improve overall business processes, more businesses are viewing analytics as mission critical. Analytics sets companies apart from their competition, it s no longer just a nice to have; it s a must-have for profitable operations. More than 600 business analysts, technologists, data analytics professionals, managers and C-level professionals across a broad variety of industries including finance, telecom, healthcare, education and computer software to name a few were polled regarding their analytic initiatives and predictions for This research details the challenges and goals that are facing analytic professionals and how they will be investing in the future. The top findings were: Approximately 60% of respondents plan to increase their analytic investments this year. The key areas of investment will be: People 53% Tools 51% Training 43% According to the respondents, their three main challenges are: Gleaning insights from data - 25% Getting access to the data 22% The ability to integrate and manipulate data 19% The most likely developments to affect the analytic community in 2013 are expected to be: An increased use of unstructured data or new data sources A shortage of analytic professionals The need for analytic tools and training 1 Forecast: Enterprise Software Markets, Worldwide; update, Gartner, December 10,

4 Methodology In order to get the most accurate insight into the market, we conducted our research within the active online analytic communities LinkedIn s Lavastorm Analytics Community Group, Data Science Central and KDNuggets with a global reach of over 75,000 analysts that offer a diverse membership of analytic professionals in varied verticals. We used an online survey tool to conduct this analytic survey. More than 600 business analysts, technologists, data analytics professionals, managers and C-level professionals were polled across a broad variety of industries including finance, telecom, healthcare and computer software regarding their analytic initiatives and predictions for Every survey participant was encouraged to answer every question. Key Takeaways: Approximately 60% of respondents are looking to increase their analytic investment this year. Decreasing investment Staying the same Not sure 10% 5% 27% 58% Increasing investment The key areas of investment: People 53% Tools 51% Training 43% Data Sources 30% None 10% The top areas of analytic investments: Predictive analytics 51% Big data 35% Dashboards 32% Reporting 31% Data exploration and discovery 30% Advanced Visualization tools 28% The biggest struggle with analytics: Gleaning insights from their data 25% Access to the data 22% Ability to manipulate and integrate their data 19% Resources 15% Requirements gathering 10% 4

5 The survey showed that the analytics industry remains extremely vibrant, with nearly 60% of respondents indicating that their company plans to increase their analytic investments in 2013 across a number of areas and tools. This could show that while people in the survey already use three self-service analytic tools on average, their current toolsets are not meeting the top three challenges of conducting complex analytics: gleaning insights from data, access to data, and the ability to integrate and manipulate data. The increased investment in 2013 is expected to be used as often for people as it is for tools. However, despite the increased investment, the survey respondents expect a shortage of analytic skills to have an impact on the industry this year. Perhaps this indicates that despite additional investment, analytic professionals expect that the demand for analytics will outpace analytic capacity for the organization. New data sources, including unstructured data, are expected to have the biggest impact on the analytics community this year. Since Big Data analytics often require organizations to not only process more data, but also to analyze additional data sources, the emphasis on new data sources is probably confirmed by the fact that 35% of respondents will put additional investment toward Big Data analytics this year. Related to self-service tools, the survey not only showed that Microsoft Excel remains the major self-service analytic tool, but that the tool landscape is quite fragmented with more than 25 in use within this community. In fact, 17 of the tools mentioned in the survey were used by fewer than 10% of the respondents. This is likely due to analyst choosing their own tools to suit their needs a trend which we see continuing as analysts seek solutions for the data integration, manipulation, and analysis challenges they still face. 5

8 Survey Results Which of the following functions do you personally perform as a regular part of your job? Data analysis 81.8% Statistical modeling 54.8% Research and development 49.1% Import data from a data warehouse (or from IT) 47.0% Publish or otherwise provide data to other departments 46.0% Combine data from a warehouse with other data not in the warehouse 41.8% Filter or drill down into dashboards/ interactive reports 41.7% Quality control 21.6% Other 7.8% None 1.3% 8

16 2013 Predictions 26.9% Increase use of unstructured data or new data sources 25.2% Shortage of analytic professionals 17.7% Need for analytic tools and training 588 Survey Responses 15.3% Shift analytic roles from IT to the business 13.3% Analytics centralized within an organization 1.7% Other Other includes: analytics decentralized, Shake out of Big Data hype fades, increased outsourcing of analytic professionals by large corporations, drawing analytic professionals from other areas of the organization, skills for analysts becomes company wide. Answer Options Response Percent Response Count Increase use of unstructured data or new data sources 26.9% 158 Shortage of analytic professionals 25.2% 148 Need for analytic tools and training 17.7% 104 Shift analytic roles from IT to the business 15.3% 90 Analytics centralized within an organization 13.3% 78 Other 1.7% 10 answered question 588 skipped question 15 16

17 About Lavastorm Lavastorm Analytics is a global analytics software company that enables a new, agile way to analyze, optimize, and control data and business processes. The company s products provide analysts with programming powers previously limited to IT to rapidly unify disparate data, easily construct complex analytics, and effectively deliver actionable insight and results. Analytics built in Lavastorm can easily be deployed as persistent solutions and applications, providing continuous analytic monitoring across multiple systems and complex, data-intensive processes. Lavastorm s solutions have identified business improvements worth billions of dollars for some of the largest corporations in the world. For more information on Lavastorm Analytics or to download a desktop edition of the Lavastorm Analytics Engine, our data analytics software for business analysts, please visit or respectively. 17

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